Chinese auto exports recovering in 2011

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From People’s Daily:

With economies throughout the world entering into recovery, China’s auto industry is beginning to shake the effects of the financial crisis and auto exports have begun to rebound gradually in 2011, according to an annual report released by the automotive section of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.

Passenger car exports, which account for a total of one-third, will become the major vehicle models exported in the future.

Chinese automakers exported 50,100 vehicles in October of 2010, a year-on-year increase of 73.47 percent.

Zhu Yiping, assistant secretary-general of the CAAM, said this third consecutive month of growth shows the country’s auto exports market is recovering.

Passenger vehicle exports from China rose 14.76 percent from September and 85.39 percent from 2009 to 27,200 units in September. The country’s commercial vehicle exports fell 5.53 percent month on month, but jumped 61.1 percent from a year earlier to 22,800 units.

In the first 10 months of 2010, China’s vehicle exports reached 434,400 units, up 74.74 percent compared to the same period last year.

Chery Auto was ranked first in terms of auto export volume in the same period, followed by Changan Auto, Great Wall Motor, Dongfeng Motor and BAIC.